Pakistan’s capital market is set to introduce new digital payment and investor verification services as the Central Depository Company of Pakistan Limited (CDC) and EClear Services Limited expand their collaboration through the State Bank of Pakistan’s Raast payment system.
The initiative aims to make financial transactions more convenient for investors and brokerage firms by introducing modern payment collection methods. It will also support the broader shift towards digital financial services in Pakistan’s stock market.
Under the arrangement, EClear will become the first institution in Pakistan’s capital market to adopt Raast Person-to-Merchant (P2M) Request to Pay Later and Dynamic QR Code payment services.
These solutions are designed to simplify the process of collecting payments and provide additional options for handling transactions across brokerage operations. By using digital payment channels, the initiative could help reduce reliance on traditional payment methods and make the transaction process more efficient for market participants.
The Dynamic QR Code facility is expected to offer a convenient way for customers to initiate payments by scanning a QR code through a supported banking application. This approach can reduce the need to enter lengthy account details manually and may help minimize payment errors.
The Raast P2M Request to Pay Later service is another component of the initiative. It is intended to support a more structured payment collection process, allowing businesses to request payments through the system. The exact workflow and availability will depend on the implementation and participating financial institutions.
The collaboration between CDC and EClear reflects the growing role of digital infrastructure in Pakistan’s financial sector. As investors increasingly expect faster and more accessible services, digital payment solutions can help brokerage firms improve operational processes and customer convenience.
For stock market participants, streamlined payment collection could make certain brokerage-related transactions easier to manage. However, the practical benefits will depend on how the services are integrated into brokerage platforms and how widely they are adopted by investors and financial institutions.
The initiative also aligns with Pakistan’s broader efforts to encourage digital payments and expand the use of Raast, the State Bank of Pakistan’s instant payment system. Raast is designed to facilitate electronic transfers and support a more accessible digital payments ecosystem.
By extending Raast-based services into capital market operations, CDC and EClear are taking another step towards modernizing the way payments are handled within Pakistan’s investment sector.
The introduction of Request to Pay Later and Dynamic QR Code services could provide brokerage operations with additional tools for payment collection and transaction management. Further details about the rollout, customer access, and operational arrangements will determine how quickly investors begin using the new facilities.